INDIAN MARKET WRAP UP- 03 December 2013

INDIAN MARKET WRAP UP- 03  December 2013

INDIAN BENCHMARKS ended with marginally lower amid.

INDIAN BENCHMARKS ended marginally lower as investors booked profits at higher levels after gains in the previous three sessions, due to profit-taking in stocks of blue chips such as Larsen and Toubro Ltd after upbeat U.S. data raised fears the Federal Reserve would reduce its monetary stimulus.

Further, Reliance Industries was up 1% on reports that Reliance Industries-BP combine is leading the race for picking up 25% stake in Gujarat government's planned LNG import terminal at Mundra. After a disappointing year-on-year sales performance in November, stocks of auto companies were declined by 0.5% on Tuesday. The decline in the BSE auto index was led by losses in Mahindra & Mahindra, Hero MotoCorp, Bajaj Auto and Tata Motors.

 The crucial resistance for Nifty is now seen at 6230 and above this 6290. Support for the immediate term is now placed at 6190 and next support will be 6170.

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INDIAN MARKET OUTLOOK - 27 SEPTEMBER 2013

INDIAN BENCHMARKS after closing the September series as the best so far in 2013, where the Nifty rallied 9 percent, the October series is likely to open on a flat to positive note.

FUTHER, Adani Enterprises will be under pressure as Australia's new government has ordered major coal and coal seam gas projects to seek national environmental approval. Pharma firms Lupin, Ranbaxy under see a negative start after US-based Forest Laboratories Inc and Forest laboratories Holding along with Royalty Pharma filed lawsuits against several firms including Lupin and Ranbaxy for infringement of patents related to Savella.

Trend in FII flows: The FIIs were net buyers of Rs. 3432.45cr in the cash segment while the domestic institutional investors (DIIs) were net sellers of Rs. 1540.20cr, as per the provisional figures released by the NSE.

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INDIAN MARKET OUTLOOK - 26 SEPTEMBER 2013

INDIAN BENCHMARKS are likely to be highly volatile ahead of today's F&O expiry. Banks will continue to remain in focus.. Telecom stocks may be under pressure ahead of the spectrum auction.

FUTHER, ONGC will likely see an uptick, as the company would drill about four wells this year in Cambay basin in tie up with ConocoPhillips, with an investment of about Rs 200 crore. Aviation stocks may continue to remain under spotlight.

Trend in FII flows: The FIIs were net buyers of Rs 3365cr in the cash segment on Wednesday while the domestic institutional investors (DIIs) were net sellers of Rs. 1245cr, as per the provisional figures released by the NSE.

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INDIAN MARKET WRAP UP - 25 SEPTEMBER 2013

INDIAN BENCHMARKS ended red.

INDIAN EQUITY BENCHMARKS ends in red, as global investor sentiments remained edgy on concerns over political dysfunction in US as well as led by declines in blue chip shares including Reliance Industries on caution ahead of equity derivatives expiry. Reliance Industries Ltd provisionally fell 3.2 percent while ITC Ltd ended 1.2 percent lower.

Further, Banking shares continue under pressure on fourth day in a row, expect SBI, all remaining eleven banks from the Bank Nifty are trading lower by up to 4% on NSE. Shares of Financial Technologies plunged after its auditor withdrew the audit report saying that the company's standalone and consolidated results are not to be relied upon.
                                                                                                
The crucial resistance for Nifty is now seen at 5925 and above this 5965. Support for the immediate term is now placed at 5820 and next support will be 5770.

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INDIAN MARKET OUTLOOK - 25 SEPTEMBER 2013

INDIAN BENCHMARKS is expected to open soft following muted Asian markets. The overall trend will remain weak due to lack of positive triggers in the near term, while the expiry of equity derivatives contracts on Thursday is expected to increase the volatility.

FUTHER, Hexaware Technologies Ltd approved one of the biggest deals in the Indian IT space, fair trade watchdog CCI has cleared Baring Private Equity's proposed acquisition of controlling stake in outsourcing firm Hexaware Technologies, saying the transaction will not adversely impact competition.

Trend in FII flows: The FIIs were net buyers of Rs. 3122.21cr in the cash segment while the domestic institutional investors (DIIs) were net sellers of Rs. 1530.04cr, as per the provisional figures released by the NSE.

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INDIAN MARKET WRAP UP - 24 SEPTEMBER 2013

INDIAN BENCHMARKS end flat amid volatility

INDIAN EQUITY BENCHMARK ended with mild gains, reversing a two-day losing streak, on value buying in beaten down rate-sensitive shares. The overall trend remained weak due to lack of positive triggers in the near term, while the expiry of equity derivatives contracts in this week was expected to increase the volatility. Gains in auto shares helped offset losses in IT majors. 

Further, Glenmark Pharmaceuticals Ltd rose 1.5 percent after the U.S. Food and Drug Administration approved a key drug for the company. Bharti Airtel ended down 1.5% despite easing competition in the Indian wireless market, Bharti’s revenue market share trends continue to be choppy.

The crucial resistance for Nifty is now seen at 5965 and above this 6015. Support for the immediate term is now placed at 5875 and next support will be 5810.

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INDIAN MARKET OUTLOOK - 24 SEPTEMBER 2013

INDIAN BENCHMARKS post the initial gap down move, witnessed profit taking yesterday. Banking, realty and infra stocks continued to witness profit taking while the technology pack managed to close in the positive territory. Today markets are likely to see a soft start on account of weak global cues on fears that the Fed could still begin scaling back its stimulus later this year.

FUTHER, MTNL may add on some gains on reports that BSNL and MTNL are likely to sign a pact that would allow the state-run companies to utilize each other’s network for providing pan-India mobile services. SBI may remain under pressure after Moody’s downgraded its rating for SBI's senior unsecured debt and local currency deposit from Baa2 to Baa3 due to increasing pressures on credit from the economic slowdown. 

Trend in FII flows: The FIIs were net buyers of Rs. 2779.44cr in the cash segment while the domestic institutional investors (DIIs) were net sellers of Rs. 1567.93cr, as per the provisional figures released by the NSE.

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INDIAN MARKET WRAP UP - 23 SEPTEMBER 2013

INDIAN BENCHMARKS fell again ahead of RBI Policy.

INDIAN EQUITY BENCHMARK cracked over 2% at the start of the expiry week heading for a second consecutive day of declines, on continued selling in rate-sensitive shares especially banks such as State Bank of India after RBI Governor Raghuram Rajan surprised markets in his maiden policy review on Friday by raising interest rates to ward off rising inflation. 

Further, Defensive sector indices including consumer durables, healthcare and export oriented IT gained as cyclical indices of banks, capital goods and realty stocks take a beating. Shares in Indian steel companies like SAIL, Tata Steel gained after a closely-watched measure of Chinese manufacturing hit its highest in six months.

The crucial resistance for Nifty is now seen at 5965 and above this 6015. Support for the immediate term is now placed at 5885 and next support will be 5810.

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INDIAN MARKET OUTLOOK - 23 SEPTEMBER 2013

INDIAN BENCHMARKS is likely to take a breather after a roller-coaster week of surprise central bank announcements. Analysts expect a week of consolidation, with the broader markets moving in a range of one to two per cent. The rupee is expected to weaken this week owing to month-end dollar demand from importers and bond yields could rise further as the impact of the 25 basis points increase in the repo rate will linger. 

FUTHER, BPCL may be under pressure as South Korean major LG Chemicals has backed out of the Rs 5,000 crore petrochemicals project which was being planned in Kochi. State-owned steel maker SAIL may react to its plan to invest around Rs 800 crore to develop Bhilwara iron ore mine in Rajasthan. 

Trend in FII flows: The FIIs were net buyers of Rs. 5476.38cr in the cash segment while the domestic institutional investors (DIIs) were net sellers of Rs. 1870.82cr, as per the provisional figures released by the NSE.

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INDIAN MARKET WRAP UP - 20 SEPTEMBER 2013

INDIAN BENCHMARKS end lower as RBI disappoints

INDIAN EQUITY BENCHMARK slumped wiping off most of previous day gains after the RBI stunned the market by hiking repo rate by 25 basis points to 7.5% citing inflationary pressures. Rate sensitive were the most affected as Realty index tanked 7% and the banking index was down 5% on concerns that margins would further come under pressure on account of high borrowing.

Further, the only gainers among the benchmark shares were Wipro, Sun Pharma and Gail India adding 1-1.5%. Dr Reddy's Laboratories hits a record high, the Pharma stock has gained 8% in past three days after the company secured the approval of USFDA.

The crucial resistance for Nifty is now seen at 6065 and above this 6155. Support for the immediate term is now placed at 5950 and next support will be 5880.

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INDIAN MARKET OUTLOOK - 20 SEPTEMBER 2013

INDIAN BENCHMARKS marking its highest close in nearly three years yesterday, rose by 684 points and closed at 20,647, led by banks, after the US Federal Reserve surprised the markets by sticking to its stimulus plan. Today market may open flat to negative lower as investors seem to be cautious ahead of the RBI monetary policy review to be announced. 

FUTHER, Ranbaxy Laboratories is likely to strike down on reports that the company’s manufacturing facility in United State (US) is under surveillance of the US Food and Drug Administration (FDA). 

Trend in FII flows: The FIIs were net buyers of Rs. 7118.16cr in the cash segment while the domestic institutional investors (DIIs) were net sellers of Rs. 3154.55r, as per the provisional figures released by the NSE.

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INDIAN MARKET WRAP UP - 19 SEPTEMBER 2013

INDIAN BENCHMARKS cheered the US Federal Reserve’s decision on bond purchases

INDIAN EQUITY BENCHMARK surged over 3% highest close in nearly 3 yrs, led by banks after the U.S. Fed Reserve surprised the markets by sticking to its stimulus plans. Rate sensitive indices such as automobiles, real estate, infrastructure and banking have rallied up to 17% on hopes that the RBI may roll back its tightening measures taken in order to contain the forex volatility in its monetary policy review.

Further, Bank stocks were the star performers of the day, on hopes that the RBI would ease some of the liquidity curbs it had placed in July to protect the rupee. Bharti Airtel has rallied over 5% on reports that Singapore Tel Ltd pledges support to lead a consolidation drive of the local telecoms industry.

The crucial resistance for Nifty is now seen at 6175 and above this 6240. Support for the immediate term is now placed at 6080 and next support will be 6030.

News to watch:

• Watch out for the MONITORY POLICY STATEMENT on 20 SEPT.

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INDIAN MARKET OUTLOOK - 18 SEPTEMBER 2013

INDIAN BENCHMARKS rose yesterday led by gains in technology shares that were aided by a weak rupee and attractive short-term valuations due to the recent underperformance of the sector. Today market is likely to see a cautious day of trade, mirroring global sentiment which has been tepid. Investors will be counting on the Federal Reserve to launch only a modest scaling back of stimulus later in the day. Investor’s eye will also be on India’s Finance Minister P. Chidambaram speech at a conference, organized by ICRIER.

FUTHER, Tata Motors is likely to see an uptick after rating agency Moody's upgraded Jaguar Land Rover Automotive corporate rating from 'Ba3' to 'Ba2' on strong and fairly stable credit profile.

Trend in FII flows: The FIIs were net buyers of Rs. 2345.89cr in the cash segment while the domestic institutional investors (DIIs) were net sellers of Rs. 978.62cr, as per the provisional figures released by the NSE.

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Nifty Futures Outlook - 16 September 2013

Nifty future remains volatile and ended on a flate note on Friday ahead of macro events in the week ahead. Nifty future is likely to remain in range of 5600 to 6000 in this week. Nifty futures close at 5876 with a high of 5908. Nifty for next trading session would have the resistance of 5910 if it breaks this level than having the next resistance of 5955 and in down side having the support of 5820 if it breaks this level than having the next support of 5770.

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INDIAN MARKET OUTLOOK - 16 SEPTEMBER 2013

INDIAN BENCHMARKS are expected to open on a positive note after a consolidated week tracking gains in the Asian shares while traders will keep a close eye on inflation data for the month of August which will be out later today.

FUTHER, stocks in focus today will be State bank of India, the country's largest lender has paid Rs 1,120 crore in advance tax for the second quarter as against Rs 1,820 crore in the corresponding period last year, down nearly 40 per cent and Indian energy firms like Reliance Industries, Cairn India and Essar Oil have put shale oil and gas exploration and marketing on their priority list, encouraged with forecasts that the shale boom in North America will dislodge OPEC's hegemony over global energy trade.

Trend in FII flows: The FIIs were net buyers of Rs. 2688.62cr in the cash segment while the domestic institutional investors (DIIs) were net sellers of Rs. 896.29cr, as per the provisional figures released by the NSE.

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INDIAN MARKET WRAP UP - 12 SEPTEMBER 2013

INDIAN BENCHMARKS ended flat ahead of economic cues.

INDIAN EQUITY BENCHMARK ended on a flat note as blue chip shares including ITC declined after the PM’s economic panel said it would be a challenge for the government to meet its fiscal deficit. On the sectoral front FMCG, Tech and IT were in the red and the ones in the green were the Power, Realty and Capital Goods. IIP rose 2.6% above expectations, led by a jump in 2 of the most volatile components of capital goods.  

Further, Power stocks were also in bull grip with the Tata Power rising 2% as Central Electricity Regulatory Commission is likely to decide compensatory tariff rate. ITC Ltd fell as traders lighten positions ahead of WPI data on Monday and the U.S. Federal Reserve's decision on stimulus tapering, as well as RBI policy review later in the next week.                   

The crucial resistance for Nifty is now seen at 5910 and above this 5955. Support for the immediate term is now placed at 5820 and next support will be 5770.

News to watch:
• Watch out for the WPI numbers on 16 SEPT.
• Watch out for the RBI policy on 18 SEPT.
• Watch out for the MONITORY POLICY STATEMENT on 20 SEPT.

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INDIAN MARKET OUTLOOK - 13 SEPTEMBER 2013

INDIAN BENCHMARKS may continue to struggle on account of weak global cues as investors fretted as to how much the US Federal Reserve will cut its monthly stimulus at next week's monetary meeting, However, the negative sentiment may be contained as India's industrial production unexpectedly rebounded in July while consumer inflation cooled last month, offering some relief for policymakers who have been battling the country's worst economic crisis.

FUTHER, Adani, Tata Power and power distribution companies will be in focus today. The CERC has asked discoms to submit views on Deepak Parekh report by tomorrow. Financial Technologies may be in focus once again, the enforcement directorate has submitted its report to the finance ministry on the NSEL crisis. The report alleges financial irregularities in NSEL. Mumbai police has also confirmed that NSEL cheated investors. The government's working group that was probing the NSEL mess has found instance of money laundering.

Trend in FII flows: The FIIs were net buyers of Rs 3764.75cr in the cash segment on Tuesday while the domestic institutional investors (DIIs) were net sellers of Rs. 1460.97cr, as per the provisional figures released by the NSE.

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INDIAN MARKET OUTLOOK - 12 SEPTEMBER 2013

INDIAN BENCHMARKS are likely to see a soft opening on account of weak global cues following mixed trend in other Asian markets, while investors will keep a close eye on macro-economic data which will be out later today. The government will unveil data on industrial production for July later today. Industrial production registered a contraction of 2.2 per cent in June. 

FUTHER, shares of UltraTech and JP Associates are expected to see some gain on account of sale of its Gujarat cement unit to UltraTech Cement for Rs 3,800 crore. UltraTech will pay Rs 150 crore in stock, Rs 1,650 crore in cash and assume debt worth Rs 2,000 crore. Jaypee Group has said that the deal will help JP Associates reduce its outstanding debt by 15 percent. IDFC is likely to see some gains after the RBI lifted restrictions placed on FIIs on purchasing shares as the foreign shareholding in the company had gone below the prescribed limit.

Trend in FII flows: The FIIs were net buyers of Rs 3272cr in the cash segment on Tuesday while the domestic institutional investors (DIIs) were net sellers of Rs. 1695cr, as per the provisional figures released by the NSE.

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INDIAN MARKET WRAP UP - 11 SEPTEMBER 2013

INDIAN BENCHMARKS edged higher on FIIs inflows.

INDIAN EQUITY ended flat after the profit booking session succeeding four consecutive sessions of gains. Metals, realty, banks and capital goods stocks are landed strength to the market while FMCG are growing weak. Sharp appreciation in rupee is another reason that boosted the market and attracted huge foreign money.

Further, banking shares rose on value buying with the State Bank of India rising 3.5 percent and Axis Bank ending 3.15 percent higher. Cairn India Ltd fell 2.6 percent as Brent crude futures declined more than 4 percent in the previous two days as fears of an imminent strike against Syria eased.

                                                                                                

The crucial resistance for Nifty is now seen at 5995 and above this 6060. Support for the immediate term is now placed at 5850 and next support will be 5770.

News to watch:

• Watch out for the IIP and CPI numbers on 12 SEPT.

• Watch out for the RBI policy on 18 SEPT.

• Watch out for the MONITORY POLICY STATEMENT on 20 SEPT .

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INDIAN MARKET WRAP UP - 06 SEPTEMBER 2013

INDIAN BENCHMARKS closed on the positive note.

INDIAN EQUITY BENCHMARKS extended gains in the afternoon session on back of buying witnessed in financial shares after the central bank raised overseas borrowing limits for lenders in a bid to prop up growth and boost the rupee. The rupee gained some ground after the slew of reforms announced by the central bank.

Further, Hindustan Oil Exploration Co Ltd gained 5 percent after it said the ministry of petroleum and natural gas approved commerciality of a hydrocarbon discovery. Reliance Communications shares rose 2.7 %after the company said it has appointed a new CEO for its India enterprise.
                                                                                                
The crucial resistance for Nifty is now seen at 5760 and above this 5845. Support for the immediate term is now placed at 5660 and next support will be 5845.

News to watch:

• Watch out for the IIP numbers on 12 SEPT.
• Watch out for the RBI policy on 18 SEPT.
• Watch out for the MONITORY POLICY STATEMENT on 20 SEPT

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